Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Kimse Yok Mu hosts international experts for social media benefits conference

The Kimse Yok Mu (Is Anyone There?) Foundation hosted an international conference titled “Social Media for Good” in Istanbul on Friday, drawing a wide range of international experts in journalism and social media to discuss ways of making positive contributions via the Internet.

One Year On, New Research Uncovers Turkey’s Coup Bid Staged By Erdoğan Himself

The report uncovered a critical information that the plot was actually kicked off on July 11 with secret orders given by generals who corroborated with Turkey’s autocratic President Erdogan’s defense and intelligence chiefs in disguising the plan as unconventional action plan. Only a handful men were let into the secret plot while many were led to believe a drill or an urgent response to a terror threat is underway.

Countering Al Qaeda’s Message

Important literature from mainstream Muslim scholars in Pakistan (Muhammad Tahir-ul Qadri), Turkey (Fethullah Gulen), and elsewhere, which claim terrorists are not real Muslims, has yet to be translated, disseminated, or publicized more broadly in the Arab world, Somalia, Mali, or indeed Kenya. Al Qaeda’s extremists are all too ready to lampoon the majority of the world’s Muslims as infidels.

Gülen’s lawyers refute justice minister’s statement likening Gülen to Iran’s Khomeini

Lawyers for Turkish Islamic scholar Fethullah Gülen have said via Twitter that Justice Minister Bekir Bozdağ should have provided proof to back up his statement that Gülen planned to return from the US to Turkey in a similar way to Iran’s revolutionary leader Ayatollah Ruhollah Khomeini.

Fethullah Gülen sends a message to the conference “Peacebuilding through Education”

The Fountain Magazine in collaboration with the Peace Islands Institute organized a conference titled “Peacebuilding through Education” on September 24, 2012 at The Times Center, NY. The conference aimed to highlight the importance of educating children, especially at the level of primary and secondary school, as an effective and sustainable method to prevent and solve […]

55-year-old leukemia patient says looking after grandchildren as daughter, son behind bars over Gülen links

The 55-year-old mother of an imprisoned Turkish woman said in a Twitter video that she has been left to look after her grandchildren after the Turkish government imprisoned her daughter as well as her son over alleged links to the Gülen group.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Tajik-Turkish Schools excel in Science Olympiads

New Constitution should have no barriers to mother tongue education

Abant Platform takes on sustainable growth, separation of powers

Ethiopian Minister of Foreign Affairs holds talks with TUSKON delegation

Sacrificing a legend for a shoebox*

Who put those 4.5 million dollars there?

TUSKON event to yield $350 mln in trade with Africa in one day

Copyright 2026 Hizmet News